Introduction The concept of “Convertible Notes” was first introduced vide Ministry of Corporate Affairs’ notification dated June 29, 2016 by way of amendment to the definition of Deposits. It is basically aimed to provide financing to a start-up company till it raises Series-A funding, with a simple and easy compliance procedure and without the requirement …
Issue Of Convertible Notes By Start Up Companies Read More »
The Ministry of Corporate Affairs has been initiating various steps to identify companies which are registered under the Companies Act but are not performing any business activities. One of those, was the action taken by the authorities to strike-off names of lakhs of Companies from the official records for not carrying out business activities which …
Active Company Tagging Identities And Verification(ACTIVE) For All Companies (INC-22A) Read More »
BENEFICIAL INTEREST I. Background: The concept of beneficial ownership refers to having a beneficial interest in any property, goods including securities. A beneficial interest is “that right (in the form of profit, benefit or advantage) which a person has in a contract made with another (third party)”. Beneficial interest is often referred to in matters …
Analysis and disclosures on holding Beneficial Interest under Companies Act, 2013 Read More »
We have sent out quiet a few mailers intimating you about the daily penalty imposed by the regulator for delay in Annual filings which will result in a huge financial burden on the company. We now want to highlight a few more practical issues faced in the process. Requirements for Annual Filings as per the …
Daily Penalty Imposed For Delay In Annual Filing and Consequences For Non-filing Read More »
The Hon’ble President has given his assent for promulgation of the Companies Amendment (Ordinance), 2018 with effect from Friday 2nd November, 2018 with a dual objective of promoting ease of doing business and better corporate compliance. The key highlights of Companies (Amendment) Ordinance, 2018 for Corporates are as summarised below. The amendments mainly aim to bring about: …
Companies (Amendment) Ordinance, 2018 – Highlights Read More »
INTRODUCTION India has already marked its presence as one of the fastest growing economies of the world. It has been ranked among the top 10 attractive destinations for inbound investments. Since 1991, the regulatory environment in terms of foreign investment has been consistently eased to make it investor-friendly. India, with a young skilled workforce, high …
DCS /COMP / 28 / 2016-17 – March 30, 2017 :- MANDATORY FILING OF FINANCIAL RESULTS IN XBRL MODEBSE has vide its Circulars dated November 30, 2015, March 11, 2016, March 16, 2016 and January 18, 2017 intimated the listed companies regarding mandatory filing of information with the exchange in electronic mode. BSE has now with …
RBI/2016-17/316 – A. P. (DIR Series) Circular No.47 – Issuance of Rupee denominated bonds overseas.RBI has laid down framework for issuance of Rupee denominated bonds overseas (Masala Bonds). With a view to harmonize various elements of the ECB framework, it has been decided that any proposal of borrowing by eligible Indian entities by issuance of …
General Circular 04/2017- Clarification regarding applicability of section 16(1)(a) of the CA 2013 with reference to cases under corresponding provisions of Companies Act, 1956.It has been clarified that the applications that were rejected by Regional Directors under section 22(1)(ii)(b) of the Companies Act,1956, on the ground that such applications were made after the requisite period …
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